Professional Documents
Culture Documents
www.imperial.ac.uk/business-school/msc-nance
The MSc Finance programme is well respected in the City of London for its quantitative rigour. This reputation and the applied approach to teaching is what attracted me. The technical skills and techniques I learnt have served me well and the core courses gave me a deeper understanding of the concepts behind the methods.
Douglas Porter, MSc Finance 2008 Analyst, European Leveraged Finance Group, Barclays Capital
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Pre-study courses
There are some online pre-study courses that you should take before starting the programme. These may include Induction to Maths, Introduction to Finance, Accounting Primer, and Ethics and Professional Standards.
Foundation courses
In September, you will study four compulsory courses that introduce you to the tools of modern nance and enhance your career development skills. These include Markets and Securities, Financial Modelling, The Finance Industry, and Business Valuation.
Further opportunities
Computing workshops, courses in C++ and Visual Basic Chartered Financial Analyst (CFA) exam preparation Reuters Academy
Programme timetable
Pre-study
August Pre-study courses Foundation courses Core courses Elective courses Project
Please note the programme stucture is subject to change and you should check the website for the most up-to-date information.
Foundation
September
Autumn term
October December
Spring term
January March
Summer term
April June
Summer
July August
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I was challenged by the rigour of the quantitative and academic elements of the programme, however the relevance of the materials we used to solve realworld case studies with faculty and visiting practitioners brought it all to life. The experience of learning from worldrenowned research academics and practitioners who are experts in their eld was truly inspiring.
Miramgul Maralova, MSc Finance 2010
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Core courses
Corporate Finance
Corporate nance is at the heart of investment banking and crucial to running a successful business in any sector. You cover all the key elements of company nance, valuation and risk management.
Project
The majority of students are expected to complete the Applied Project which, as its name suggests, has a practical focus and is designed for those who wish to pursue a career in a nancial institution. For the small number of students who wish to follow an academic career and want to go on to a PhD programme, we offer the Research project which is more appropriate for this context. Applied project The aim of the applied project is to enable students to produce new and relevant insights that demonstrate the practical application of tools, theories and techniques learnt from the material taught in core and elective courses. It also allows those who have secured a work placement to incorporate this experience into their year of study. Students choosing the applied project are required to take four elective courses. Research project Advised by your faculty tutor, youll identify a topic of interest and then analyse it statistically or numerically. The research project report, of up to 10,000 words, is due for assessment at the end of August. Students choosing the research project are only required to take three elective courses.
Financial Econometrics
The ability to analyse data has become a prerequisite to understanding nancial market developments and quantifying risk. This course introduces you to all the key statistical and econometric tools you need to undertake this analysis and gives training in some of the most widely used statistical software.
MSc Finance
Imperial College Business School has a reputation for excellence and is well integrated within the London nancial industry. The MSc Finance programme is highly technical and mathematical, opening the door to a broader spectrum of jobs in the city.
Pedro Monteiro De Barros, MSc Finance 2009 Analyst, Espirito Santo Investment
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Elective courses
You choose four electives from the following list to deepen your knowledge and acquire practical experience.*
Credit Risk
Students will study how to assess credit risk associated with individual exposure, and discuss the major literature in the eld and related applications.
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Fixed-Income Securities
These make up a very substantial proportion of all investments and nancing strategies in todays nancial markets. The need to price and hedge this array of products accurately has led to prolic literature in this area. The course covers the main continuous-time term structure models and valuation techniques.
Hedge Funds
Building on foundations created in Portfolio Management, this course discusses advanced portfolio management techniques, including the use of dynamic portfolio theory, derivatives and portfolio insurance. Advanced trading strategies, such as event-driven and credit derivative strategies are discussed. For further details of each course visit: www.imperial.ac.uk/business-school/msc-nance
Banking
The rst part of the course focuses on issues in nancial intermediation from a microeconomic perspective: risk-sharing, bank runs, regulation and underscoring asymmetric information models. The second part analyses the dominant role of investment banks as information intermediaries.
* Electives run subject to student interest and availability. Not all combinations of electives are possible. Imperial College Business School reserves the right to withdraw or replace an elective.
International Finance
Introduces key concepts and analytical tools used in the eld of international nance and international macroeconomics. Topics covered are balance of payments, exchange rates, foreign debt and default, direction of capital ows, global imbalances and home bias.
The tools and techniques I learnt are highly relevant in my current role as a Structurer with Socit Gnrale.
Martin Jost, MSc Finance 2009 Equity Derivative Structurer, Socit Gnrale Corporate & Investment Banking
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Faculty
Our world-class faculty combine academic rigour with a hands-on approach to the latest business practice. They are engaged in cutting-edge research, and many are actively involved as consultants for leading international organisations.
Focus on faculty
Andrea Buraschi, Programme Director (external affairs), MSc Finance, Professor of Finance Andrea teaches on the PhD Programme and the MSc Finance, as well as directing the International Wealth Management Programme, which trains top international private bankers and nancial executives. He has published in numerous journals, presented papers internationally and won many teaching and research awards, including the Inquire Europe award and the WFA Award in Investments. Robert Kosowski, Assistant Professor and Director of the Risk Management Lab and Centre for Hedge Fund Research Robert teaches in the MSc Finance and MSc Risk Management and Financial Engineering programmes. He has published in numerous nance journals, and has received best paper awards from Inquire Europe, Inquire UK, and the European Finance Association. Previously an Assistant Professor at INSEAD, he has worked for Goldman Sachs, the Boston Consulting Group and Deutsche Bank, as well as serving as Specialist Advisor to the UK House of Lords and Expert Technical Consultant to the IMF. Karim Abadir, Professor of Financial Econometrics Karim teaches Financial Econometrics. He has a DPhil from Oxford University and an MA and BA from the American University in Cairo. He is a holder of two Econometric Theory awards, has authored over 60 articles in top journals, and written two books. Lara Cathcart, Senior Lecturer Lara lectures in the MSc Finance, MSc Actuarial Finance, MSc Risk Management and Financial Engineering, and the MBA Full-Time and part-time programmes. Her work has appeared in quantitative nance journals, such as the Journal of Computational Finance, the Journal of Fixed Income and Quantitative Finance, and in more mainstream practitioner publications, such as Risk and Professional Investor. Lara has also consulted for several investment banks and for HM Treasury.
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As an MSc Finance alumnus, I enjoy coming back to the Business School to present a real case study to students in the Private Equity and Entrepreneurial Finance course with adjunct professor Andreas Angelopoulos. I like to challenge the thinking of the class, and am impressed by their ability to apply the technical skills and techniques they have learnt.
Elias Sakellis, Executive Director, Goldman Sachs, MSc Finance 1999
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Our MSc Finance graduates are working in many different roles at a wide range of companies, including:
BA Pension Investment Management, Fund Management Bangkok Bank P.C.L., Portfolio Management Bank of America Merrill Lynch, Investment Banking Bank of France, Financial Economics Research Barclays Capital, Sales Barclays Capital, Investment Banking Barclays Wealth, Analyst BC Capital Management LLP, Quantitative Analyst BNP Paribas, Fixed Income Structuring China Development Bank, Analyst CIMB, Corporate Finance CIMB Investment Bank, Group Treasury
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Citi, Investment Banking Goldman Sachs, Investment Management Hedge Funds Goldman Sachs, Asset Management Jefferies, Analyst J.P. Morgan, Credit Default Swaps Trader J.P. Morgan, Trading J.P. Morgan Hong Kong, Operations & Business Services KPMG, Audit Morgan Stanley, Fixed Income, Emerging Markets Nomura, Global Markets Royal Bank of Scotland, Global Markets UBS, Global Banking & Markets
Employability
83% of the 2009 MSc Finance cohort were employed within six months of completing the course.
30%
Financial Services Investment Banking Investment Fund/Hedge Fund Consulting/Professional Services Central Bank/Ministry of Finance Commercial/Retail Banking Other (including IT/Telecommunications/ Engineering/Manufacturing)
43% 30% 9% 6% 3% 3% 6%
The Careers Service was a wonderful source of support for me. I particularly appreciated their assistance with the development of my overall career strategy. I secured a role at J.P. Morgan, London as a Credit Trader and I can honestly say that the help the Careers Service provided enabled me to market myself more effectively.
Ana da Silva Castro, MSc Finance 2010 Credit Trader, J.P. Morgan
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55% 30%
55% 30% 7% 5% 3%
Alumni network
Like every other aspect of our MSc programmes, the alumni network offers you practical benets and allows you to take full advantage of your Imperial College Business School connections from the beginning of your study and throughout your career. Our role in keeping the alumni network connected starts by providing you with the opportunity to meet a powerful international community of alumni through events, support classes and country networks, sector interest groups and continuous learning and career services. We encourage you to play an active part in this prestigious network and, as a student and alumnus of the Business School, to make full use of your lifelong connection to outstanding business leaders, thinkers and decision-makers. For more information please visit www.imperial.ac.uk/business-school/alumni
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My classmates came from across the globe; I really enjoyed this diversity and the richness it brought to the programme. It has also helped me adapt to the multi-cultural environment of my post with J.P. Morgan, Hong Kong. I will always treasure my time at Imperial and I know that the Imperial College Business School alumni network will continue to open doors for me the world over.
Edwin Chun Yeung Li, MSc Finance 2010 Corporate Development Program Graduate Analyst, J.P. Morgan
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Studying in London was really important to me. It is not only a lively and vibrant place to live as a student but I knew it would enable me to learn from and develop networks with leading practitioners and alumni who live and work in the City. Being based in London also enabled me to make a smooth transition to my role with a top investment bank.
Tiago Dias, MSc Finance 2008 Analyst, Goldman Sachs
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Entry requirements
Who should apply?
The MSc Finance attracts applications from individuals of exceptional intellect who have achieved excellent degrees from the worlds best universities. You will need strong, proven mathematics skills, with an outstanding degree in a highly quantitative discipline, as well as high-level English language skills. You should be able to demonstrate well researched long term career goals, and an understanding of the nancial sector. Work experience is not a requirement, but relevant work experience or internships will add weight to your application.
Start date
2 September 2011.*
Fees
27,500 (2011) For details of payment terms, please visit www.imperial.ac.uk/business-school/msc-nance
Scholarships
We have a number of scholarships available for students joining the MSc Finance programme. Please visit www.imperial.ac.uk/ business-school/msc-nance for more details. Imperial College scholarships are also available. For details, please visit www.imperial.ac.uk/registry/studentnancialsupport/ pgscholarships or email scholarships@imperial.ac.uk
Ways to meet us
We hold regular, on-campus and online information sessions for prospective students. To reserve your place or to check times and dates for all sessions, please contact us at www.imperial.ac.uk/business-school/waystomeetus, or email business-school@imperial.ac.uk If you would like to visit our campus and attend a lecture before you apply, email the MSc Finance Recruitment Team at mscnance@imperial.ac.uk If you would like to nd out when to meet us at a UK or international recruitment fair, visit www.imperial.ac.uk/business-school/waystomeetus If you would like one of our faculty to visit your university to discuss the programme please email business-school@imperial.ac.uk
Attendance requirements
The UK Government has recently imposed a new requirement on universities to monitor the attendance of international students, and to report any student visa holder who ceases to be in regular attendance to the UK Border Agency (UKBA). On joining the programme you will be provided with further information on attendance requirements and expected course interactions to avoid being reported unnecessarily.
How to apply
Apply online. For more information, and to submit your application online, visit www.imperial.ac.uk/business-school/applyingonline
*Exact date subject to change
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MSc Finance Recruitment Team Imperial College Business School Tanaka Building South Kensington Campus London SW7 2AZ United Kingdom
www.imperial.ac.uk/business-school/msc-nance
Disclaimer: While all reasonable efforts have been made to ensure that the information in this publication is correct, matters covered by this publication are subject to change. Imperial College Business School accepts no liability for any loss or damage caused by errors or omissions, howsoever caused. Published November 2010